Serica Energy Share Discussion Threads

[mickinvest] 22/4/2024 08:25

Tailwind will be judged on being a poor or successful acquisition depending on whether is tax losses are useful or not.

On the other hand, I'd imagine the share price would be a lot higher than £1.93 if we hadn't bought them and were about to announce a huge special dividend this week!

[yasx] 22/4/2024 08:15

As it happens, I find OilAl to be quite an insightful contributor. His style appears to be one in which he views the Co's he invests in through a critical lens (which is generally how I conduct affairs). We were aligned in our view of Pharos (in the face of extensive criticism) and I do agree that Tailwind was a poor acquisition. However, as was the case with Pharos, a poor acquisition has enabled me to get in at lower prices relative to others. I think SQZ will deliver from here. Time will tell.

Incidentally, I am not at all concerned by the date of the publication of the results. I consider any delay (perceived or real) to be irrelevant in the broader scheme of things.

[thaaarg] 22/4/2024 07:59

OilinvestorAL.

"I guarantee you that I hold more Serica shares than both the accountants combined!"

Do you have any idea how tedious, condescending and downright boring you are?

That's rhetorical. Of course you do.

Can I suggest you take your own advice and get a life?

Filtered.

[oilinvestoral] 22/4/2024 07:56

Others such as the pugnacious one will know from other holdings that my investment style would be described as an "activist"! I'm one of the very few PIs who spoke up to management of Pharos publicly and privately with the BOD! The useless CEO is now gone! At the same time the pugnacious mendacious was happy clapping in support of management and arguing with me with his usual "if you don't management sell"! Same at SQZ, I think Fleggy is as useful as chocolate teapot and objectively speaking his Tailwind acquisition is one of the worst in my living life and I said as much! The pugnacious moron kept on saying the same old "drivel" - if you like sell! No you imbecile! I like the other assets! I will continue to hold SQZ!

[oilinvestoral] 22/4/2024 07:50

Just for the record! I have never opened a spread betting account or shorted a share in my entire life!!

[oilinvestoral] 22/4/2024 07:49

To be clear my posts about my position have been written many times over the past on the BB and they are all there to see (not that I need permission from the pugnacious one or anyone else to post)!

[oilinvestoral] 22/4/2024 07:47

"Do you hold Serica shares oilinvestorAl?"--------BHI guarantee you that I hold more Serica shares than both the accountants combined! It's also held in my family fund which I run! The difference is I'm not married to SQZ. It's a free carry for me as I took more than 4 times my original stake out when they had the iran license issues ! I derisked further higher up! You don't have to be a clapper to hold the shares. You can be objective and look at both bull & bear points but that isn't popular is rampy world of bulletin boards! Lots of filtered posts ! I see the pugnacious is pugnating heavily this weekend! He should get a life !

[bountyhunter] 21/4/2024 10:55

I totally agree on that one lol! Even lol seems to have become dated I think today's equivalent is haha!

[farmscan] 21/4/2024 10:51

Oh for the old days!

[farmscan] 21/4/2024 10:51

I totally agree.

[bountyhunter] 21/4/2024 10:50

Ah yes I think you are right on that one Farmscan. It's difficult to keep track on these boards nowadays with so many shorters popping up all over the place!

[farmscan] 21/4/2024 10:25

Absolutely, although if I remember correctly, I think it was ashkv who said they had sold some.

[bountyhunter] 21/4/2024 10:11

I thought he mentioned he had sold some previously and wondered if he had sold all of his holding, I presume so but there's no harm in asking for clarification.

[farmscan] 21/4/2024 09:40

I think it would be laughable to think that any poster that doesn't appear to have a good word to say about the company would hold shares in said company.

[bountyhunter] 21/4/2024 09:22

Do you hold Serica shares oilinvestorAl?

[oilinvestoral] 21/4/2024 08:30

180p is pretty solid. 175-172p region should also provide another level of strong support. After that it's 166p which is a multi year low.

[arlington chetwynd talbott] 21/4/2024 00:08

Where is the support here? 180p? 170p?

[oilinvestoral] 19/4/2024 17:48

Stemis His role would be more in an approval capacity rather than anything else, and if he needs nearly 12 weeks to gain enough of an understanding to approve accounts jeez may be we hired the wrong guy.With regards to reserves: You see my dear Stemis ! While I haven't been a CFO, I have worked for 4 of the oil majors including 2 of the Seven Sisters as well as private companies & IOCs . I can tell you the way private companies manage their processes is very very different. At the end of the day (even though it's audited), it's a judgement call. There are assumption and private equity assumptions are the most aggressive I have ever come across! Also reserves are need to be taken in to the wider context of operational performance and wells delivery (again I wouldn't expect your pugnacious friend to understand any of this this). Reserve bbls are NOT created equal! I hope I'm wrong (for my sake)! But wouldn't be surprised either way! I certainly wouldn't rule it out!

[stemis] 19/4/2024 17:21

I wasn't questioning your 'financial' knowledge.

I was questioning your understanding of the process of approving the accounts and the responsibilities of a CFO, in light of the comment - "You now reckon they were waiting for the accountant to turn up in February to progress the results?".

As to whether there will be write downs, I don't see why there should be (if you are referring to the Tailwind acquisition). The reserves are higher than on accquisition and the oil price too. I'm not aware there has been any material increase in the cost of extraction. Why do you think there will be?

[bountyhunter] 19/4/2024 17:12

Serica's results have been in April every recent year I've looked up so there's nothing to worry re just a few days variation. It's really no big deal especially in the context of the management changes.

[oilinvestoral] 19/4/2024 17:11

"Also, it's not just up to the CFO to 'kitchen sink' the results "------Yes we know it never happens EVER! Does it? Tongue so far in cheek it's in another room ...

[oilinvestoral] 19/4/2024 17:09

BH in the context of the last years it's not 2 days! It's the latest results they have issued! In fact, comparing them to some of the earlier results they are later by many weeks. Rhetorical question being: is the auditor happy? Have there been any findings or questionable points that have been raised? Rule of thumb : bigger companies issue results sooner! Why is the 2024 SQZ issuing its results many weeks later that the tiddler from years ago ?

[oilinvestoral] 19/4/2024 17:06

"I didn't say anything about whether there would be write downs"----No you didn't! You completely ignored that point and decided to question my financial knowledge because I hadn't been a CFO like 99.9% of the population (not that I would personally even consider being a bean counter but each to their own ).I don't get the reference to strawman! Is that where this "debate" is heading? So go on then - point blank: do you or do you not (as "a former CFO of a listed company") think there will be write downs next week ... I won't hold my breath for a straight answer!

[nigelpm] 19/4/2024 16:51

If you start trying to "Kitchen sink" the results you'll also find the Auditor won't be overly pleased and your timeline to prepare results will really suffer as a result - we won't be talking 9 working days at that point!